Deputy Minister of Finance of the Republic of Uzbekistan Odilbek Isakov participated in the Bonds & Loans & Sukuk 24 online conference organized by the GFC Media group on June 23 and the virtual conference organized by TheCityUK‘s Eurasian Market Advisory Group on June 24.

For reference: GFC Media Group, based in London, UK, was founded in 2009 by Alex Johnson. Its primary mission is to organize various conferences in the field of finance and investment, thereby improving relations between investors and investment recipients. More than 5,000 international investors, banks and issuers are expected to attend the International Bonds,Loans and Sukuk 24 conference.

TheCityUK, a non-profit organization founded in 2010, provides financial and related professional services. It has 4 committees and 18 advisory groups. The Euroasia MAG Group helps to improve trade and investment ties between countries in the Eurasian region and investors and entrepreneurs operating in the UK.

Representatives of the Ministries of Finance of the Russian Federation, Slovenia, Serbia and the Republic of Belarus, as well as “BlackRock”, “Eaton Vance”, “Ashmore”, “Allianz Investments”, big investment companies such as “BlueBay Asset Management”, “Aberdeen Standard Investments”, international rating agencies such as “FitchRatings”, “S&P Global Ratings”, “Moody’s Investor Services” and international banks “HSBC”, “Citi”, “Standard Chartered”, “SMBC”  took part in the roundtables of the International Bonds,Loans and Sukuk 24 conference. ”

During the event, Odilbek Isakov made a presentation on the following issues:

• Expectations of economic growth of the country for 2020-2021 and factors providing a positive state;

• Urgent work accomplished to ensure macroeconomic stability during the crisis, continuous work in various sectors of the economy and social protection of citizens;

• Anti-Crisis Fund of the Republic of Uzbekistan established under the Ministry of Finance;

• ongoing changes in the dynamics and effective management of public debt;

• the strategy of reforming the banking system of the Republic of Uzbekistan for 2020-2025 and the conceptual framework, principles and directions of change in the industry for the next five years.

Questions from the audience were also answered at the end of the presentation which include the following:

• The importance given to achieving the great goals set by the country and the implementation of reforms, attracting talanted cadres to the industry and expanding the scope of experts;

• the impact of the pandemic on the privatization plans of state-owned enterprises and commercial banks.

It should be noted that the provision of information at such prestigious forums and conferences on effective measures to ensure macroeconomic stability in the country and ongoing reforms will serve to further strengthen relations with international investors, rating agencies and banks.

It will also pave the way for the successful issuance and placement of international bonds in international capital markets in the future, as well as the privatization of state-owned banks and enterprises through IPOs.

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